LeoPrime Daily Market Analysis

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USDCHF reversed from support area 0.95000; Likely to rise to resistance level 0.96650.

 

USDCHF currency pair recently reversed up sharply from the support zone set between the key support level 0.95000 (previous monthly low from the end of June), lower daily Bollinger Band and the 61.8% Fibonacci retracement of the upward impulse from March. The upward reversal from this support area created the daily candlesticks reversal pattern Morning Star. Given the strength of the nearby support level 0.95000 and the moderately bullish uptrend, USDCHF currency pair can then be expected to rise further toward the next resistance level 0.96650 (top of the earlier correction 4).

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